Keith Millen, who had acted as caretaker for Palace's opening two Premier League defeats and their League Cup win at Walsall on Tuesday, will reportedly be integrated into the new set-up.

Warnock turned down the chance to manage Nottingham Forest in March after parting company with Leeds in April 2013.

The 65-year-old's return will see him reunited with winger Jason Puncheon, who was fined £15,000 by the FA over comments made on Twitter in relation to Warnock, following criticism from his former Queens Park Rangers manager about a penalty miss against Tottenham.

Warnock previously left Palace for QPR in March 2010 when the club went into administration and were subsequently docked 10 points, dropping from contending for a Championship play-off spot to battling relegation, which they narrowly avoided.